NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.

 

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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Silva

 

DATE TYPED:

02/24/03

 

HB

778

 

SHORT TITLE:

Nonresident Motor Vehicle Registration

 

SB

 

 

 

ANALYST:

Hayes

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

NFI

 

 

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

Taxation and Revenue Department (TRD)

 

SUMMARY

 

     Synopsis of Bill

 

House Bill 778 amends Section 66-3-301 NMSA 1978 so that a nonresident vehicle owner subject to motor vehicle registration may use or permit the use of his/her vehicle in New Mexico for sixty (60) days without registering the vehicle with the State of New Mexico Motor Vehicle Division.  Currently, the statute allows a nonresident 180 days before requiring registration of the vehicle in the State of New Mexico

 

     Significant Issues

 

  1. The intent of HB 778 is to shorten the period of time a vehicle owner is permitted to maintain another state’s vehicle registration before changing the vehicle registration to the State of New Mexico.  The legislation reduces the time from 180 days (6 months) to 60 days (2 months).  The result would be that MVD’s records of registered vehicle owners would have more current information.

 

  1. Other states surrounding New Mexico have shorter registration time periods, i.e., 60-90 days, requiring vehicle owners to register their vehicles with that state and obtain license plates of that state.  Essentially, HB 778 would make New Mexico more “in line” with other states’ requirements.

 

  1. Any person gainfully employed within the boundaries of this state for a period of 30 days or more within a 60-day period shall be presumed to be a resident of this state.  Exceptions to this statute include:  a) nonresident students engaged in a fulltime course of study at an institution of higher learning in New Mexico, or b) a nonresident owner gainfully employed within the boundaries of New Mexico who uses his vehicle to commute daily from his home in another state to and from his place of employment within New Mexico.

 

  1. Like other provisions of the Motor Vehicle Code, such as vehicle liability insurance requirements, the level of compliance is subject to enforcement if they are to have significance to motorists and taxpayers.     

 

FISCAL IMPLICATIONS

 

There is no direct fiscal impact as a result of this legislation other than a potential ‘shift’ in the time period for receiving revenue from motorists registering their vehicles in New Mexico.

 

CMH/njw